Section 10 in Regulations For The Disbursement of Loans Under The Low Income Group Housing Scheme, 1968
10. Security for the loan.
- Every borrower shall be required to furnish the following security:(1)Personal security of the borrower himself.(2)Mortgage of land and building proposed to be constructed from the loan.(3)One security of any person other than the borrower to the satisfaction of the Housing Commissioner.(4)Any other security to the satisfaction of the Parishad.(5)The Parishad may, at their discretion, require the applicant to furnish additional security where considered necessary.Notes. - (1) The borrower will have to execute a mortgage deed as in Annexure (C).(2)The security referred to in clause (3) of this regulation shall stand discharged as soon as the house is completed.
